$236.90 Million in Sales Expected for Crocs, Inc. (CROX) This Quarter
Equities analysts expect Crocs, Inc. (NASDAQ:CROX) to announce sales of $236.90 million for the current quarter, according to Zacks. Two analysts have made estimates for Crocs’ earnings, with the lowest sales estimate coming in at $236.80 million and the highest estimate coming in at $237.00 million. Crocs posted sales of $245.89 million in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The business is expected to announce its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Crocs will report full year sales of $236.90 million for the current financial year, with estimates ranging from $1.01 billion to $1.02 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.04 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Crocs.
Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.12. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. The firm had revenue of $313.20 million for the quarter, compared to analysts’ expectations of $311.33 million. During the same period last year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year.
Several analysts have recently issued reports on CROX shares. Zacks Investment Research upgraded shares of Crocs from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, August 14th. BidaskClub upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. TheStreet upgraded shares of Crocs from a “d” rating to a “c-” rating in a research report on Wednesday, June 21st. Pivotal Research started coverage on shares of Crocs in a research report on Thursday, October 5th. They set a “hold” rating and a $9.50 target price on the stock. Finally, Piper Jaffray Companies restated a “hold” rating and set a $9.00 target price on shares of Crocs in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Crocs presently has a consensus rating of “Hold” and an average target price of $8.75.
A number of institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new position in Crocs in the 2nd quarter worth about $100,000. BlueCrest Capital Management Ltd bought a new position in Crocs in the 2nd quarter worth about $110,000. State of Alaska Department of Revenue grew its stake in Crocs by 79.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,623 shares of the textile maker’s stock worth $112,000 after acquiring an additional 6,453 shares in the last quarter. Jane Street Group LLC bought a new position in Crocs in the 1st quarter worth about $113,000. Finally, Public Employees Retirement System of Ohio grew its stake in Crocs by 12.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,814 shares of the textile maker’s stock worth $114,000 after acquiring an additional 1,586 shares in the last quarter. 88.56% of the stock is currently owned by institutional investors.
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Crocs (NASDAQ CROX) opened at 9.49 on Friday. Crocs has a 52 week low of $5.93 and a 52 week high of $9.99. The stock’s 50 day moving average price is $9.30 and its 200-day moving average price is $7.74. The company’s market capitalization is $681.01 million.
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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